408 Elm St · Albert City, IA 50510

$89,900

2 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 131 Days on market

Built 1975 0.29 ac lot $78/sqft · at area comps Est $90k · at est. ↓ 20% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.0/30.0
• DSCR +8.2/10.0
• Appreciation +7.6/10.0
• ARV discount +7.3/15.0
• 1% rule +6.1/10.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Come see this charming 2 bedroom, 1 bathroom home nestled in a quiet small-town setting. This cozy property offers comfortable living spaces, a well designed kitchen, and plenty of natural light throughout. Enjoy the peaceful surroundings, spacious yard with beautiful summer plants and flowers, and quiet small town living. The home has many recent updates including a new roof within the past 7 years, new windows within the last 3 years, and a remodeled bathroom within the last 4 years.

Key facts

• Spacious yard
• Recent updates
• Natural light

Tags

• WELL DESIGNED KITCHEN
• NATURAL LIGHT
• SPACIOUS YARD
• RECENT UPDATES
• NEW ROOF
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#274 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: health & safety D, amenities F, commute F.
• Albert City-Truesdale Community School District (rural): math 60% / reading 80% proficiency, ranked #169 of 330 in IA (top 51%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 6 active listings in the ZIP; 164 units permitted in Buena Vista County in 2024 (71 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($622 loan paydown + $5k appreciation (5.1% local appreciation)).
• Buena Vista County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• GRM: 7.5

CMA / ARV

• ARV (median comp): $89,530
• List price: $89,900
• Delta: 0.41%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
413 Main St	0.39mi	2/1.0	1,214 (+5%)	9mo	$115,000	$95	65
302 S 2nd St	0.33mi	3/1.0 (+1)	1,212 (+5%)	10mo	$49,900	$41	63
304 Highway N 14	0.25mi	2/1.5	1,288 (+12%)	6mo	$130,000	$101	62
201 3rd Street South St	0.35mi	3/2.5 (+1)	1,224 (+6%)	18mo	$55,000	$45	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.35×
• Total profit: $33,967
• Equity at exit: $51,705

10-year hold

• IRR: 20.8%
• Equity multiple: 4.64×
• Total profit: $91,523
• Equity at exit: $89,870

Cash invested: $25,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 50510

• Home prices YoY: 3.1%
• Active inventory: 6
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$81 /mo · $970/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $197

Break-even live

Break-even rent $747

Max offer price $89,900

Occupancy floor 75%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $89,900 Active 131 DOM
2. 2026-06-17
   days on market $89,900 Active 130 DOM
3. 2026-06-16
   days on market $89,900 Active 129 DOM
4. 2026-06-15
   days on market $89,900 Active 128 DOM
5. 2026-06-13
   days on market $89,900 Active 126 DOM
6. 2026-06-12
   days on market $89,900 Active 125 DOM
7. 2026-06-09
   days on market $89,900 Active 122 DOM
8. 2026-06-08
   days on market $89,900 Active 121 DOM
9. 2026-06-07
   days on market $89,900 Active 120 DOM
10. 2026-06-05
    remarks 504-char remark
11. 2026-06-05
    days on market $89,900 Active 118 DOM
12. 2026-06-04
    days on market $89,900 Active 116 DOM
13. 2026-06-02
    days on market $89,900 Active 115 DOM
14. 2026-06-01
    days on market $89,900 Active 114 DOM
15. 2026-05-31
    days on market $89,900 Active 113 DOM
16. 2026-05-31
    days on market $89,900 Active 112 DOM
17. 2026-02-24
    price $94,900 490-char remark

    Show marketing remark (490 chars)

    Come see this charming 2 bedroom, 1 bathroom home nestled in a quiet small-town setting. This cozy property offers comfortable living spaces, a well designed kitchen, and plenty of natural light throughout. Enjoy the peaceful surroundings, spacious yard with beautiful summer plants and flowers, and quiet small town living. The home has many recent updates including a new roof within the past 7 years, new windows within the last 3 years, and a remodeled bathroom within the last 4 years.

18. 2026-02-07
    listed $99,990 Active 490-char remark

    Show marketing remark (490 chars)

    Come see this charming 2 bedroom, 1 bathroom home nestled in a quiet small-town setting. This cozy property offers comfortable living spaces, a well designed kitchen, and plenty of natural light throughout. Enjoy the peaceful surroundings, spacious yard with beautiful summer plants and flowers, and quiet small town living. The home has many recent updates including a new roof within the past 7 years, new windows within the last 3 years, and a remodeled bathroom within the last 4 years.

19. 2025-11-25
    price $99,990
20. 2025-11-25
    price $99,990
21. 2025-11-08
    price $109,900
22. 2025-11-08
    price $109,900
23. 2025-10-16
    price $114,900
24. 2025-10-16
    price $114,900
25. 2025-09-22
    listed $119,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $970 · $81/mo
• Projected year-2 tax: $1,191 · $99/mo
• Expected delta: +$221/yr (+$18/mo · 22.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,948
• − Mortgage interest: −$5,036
• − Property taxes: −$970
• − Insurance: −$450
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$2,615
• Taxable income: $966
• Est. tax owed @ 24.0%: −$232
• After-tax cash flow: $2,130/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Albert City-Truesdale Community School District
• NCES district ID: 1900031
• Math proficiency: 60% ▼ -10.00%
• Reading proficiency: 80% ▬ 0.00%
• Median HH income: $52,646
• Composite: 60.78/100
• National rank: #1642
• State rank: #169 of 330 in IA

Livability — Albert City

• Score: 73/100
• State rank: #274
• US rank: #5336

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment C+ Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albert City, IA
• Population (ZIP): 1,055

Population outlook (Buena Vista County) Hauer SSP2

• Today (2025): 20,775 people
• By 2030: 21,101 · +1.6%
• By 2040: 21,955 · +5.7%
• By 2050: 23,202 · +11.7%
• By 2075: 27,159 · +30.7%
• By 2100: 29,578 · +42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 3% Lithuanian 2% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Buena Vista

• 2024 margin: Solid R (+33.3) · D 32.8% · R 66.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: -1.8pp · 2024: -33.3pp
• All cycles: 2024: R+33.3 2020: R+25.6 2016: R+25.0 2012: R+10.4 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.14%
• Current HPI: 169.085
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-20.3% since first listed

9 events — show timeline

• 2026-02-24 Price Changed $94,900 Iowa Great Lakes BOR
• 2026-02-07 Listed $99,990 Iowa Great Lakes BOR
• 2025-11-25 Price Changed $99,990 Iowa Great Lakes BOR
• 2025-11-25 Price Changed $99,990 NWIA
• 2025-11-08 Price Changed $109,900 Iowa Great Lakes BOR
• 2025-11-08 Price Changed $109,900 NWIA
• 2025-10-16 Price Changed $114,900 NWIA
• 2025-10-16 Price Changed $114,900 Iowa Great Lakes BOR
• 2025-09-22 Listed $119,000 NWIA

Property tax history

+5.5%/yr

Latest (2025): $970 · +4.0% YoY. Source: county tax records.